Hi
Sorry, you are not being clear on what you are comparing :
- using just a linear regulator
Do you mean a straight 5V linear PSU with regulator
- using a cheap buck converter module (like you can find on ebay) to first step down the 12V followed by a linear regulator
What is the 'cheap buck' stepping down from? You cannot simply put mains voltage into a buck regulator (not that I am aware of)
It may be that the Chinese vendor has no idea what they are talking about and have labelled a SMPS as a buck.
You can assume I'll need < 500ma from the 5V supply.
The amount of power here is not significant.
12V-5V = 7V
7V * 0.5A = 3.5W to dissipate by the linear regulator. Perfectly doable
'using a buck converter module to first step down the 12V followed by a linear regulator'
will not result in a 'clean' PSU like a linear PSU, you still have to heavily filter the buck output. Even then there will still be a small amount of switching noise.
It is not economical to make commercial PSUs like this, it may be worth while for a home project there was a project somewhere on the forum the other day.